DISH has been under an injunction for several years against using items covered by TiVo's patents, and a March 2010 appeals court decision left in place a $200 million fine against DISH for violating that injunction.

DISH requested that the entire Court of Appeals for the Federal Circuit hear the case (what's called an "en banc" hearing), rather than the smaller panel of judges who heard the earlier appeal. After polling its judges, the Court of Appeals today agreed to rehear the case (PDF)—a relatively rare decision.

TiVo, which has litigated this issue for years, issued a statement: "We are disappointed that we do not yet have finality in this case despite years of litigation but we remain confident that the Federal Circuit's ruling in our favor will be reaffirmed after all of the judges on the Federal Circuit have had the opportunity to review the merits of this case."

For now, though, DISH keeps its $200 million, and the lawyers get another day in court.

How did the markets take the news? The chart below makes it abundantly clear—TiVo got hammered.